Rivers
RSG To Adopt New Accounting Standard
Rivers State Government
would adopt modern public accounting procedures as a way of transforming its Public Finance Management system to be in line with acceptable global accounting standard.
Governor Chibuike Amaechi made this known through the Secretary to the State Government, Mr. George Feyii at a one-day sensitization workshop organised for Commissioners and Head of Government Ministries in the State on International Public sector Accounting Standard (IPSAS) in Port Harcourt, recently.
According to the governor, the new accounting system in the state would create room for economic development, unlike in the past when public accounting procedures were done on cash basis which often results in complications.
He urged participants at the workshop to key into the new system of accounting practice and to show more commitment toward the process.
Also speaking, the Commissioner for Finance, Dr. Chamberlain Peterside explained that with the new accounting standard, it would be possible to keep pace with changing accounting, developments, improve accountability in the State and ensure transparency through IPSAS compliant financial statements.
He said while old accounting practices should be discontinued, supportive accounting policies must be developed to guide accounting in the State in line with IPSAS requirements which includes, adoption of accurate budget codes and charts for all accounting equations, revenue and expenditures.
Other requirements listed by the finance commissioner for effective implementation of the new accounting standard include its translation into specific policies and the creation of operational double-entry accounting system in all the State ministries, departments and agencies.
In a presentation, the World Bank representative at the workshop, Mr. Jens Kristensen said “public financial management touches on politics and power and the reform of budget system amounts to restructuring of politics and power”.
He said Rivers State was among the four states including Delta, Edo and Bayelsa presently benefitting from the SEEFOUR Project of the World Bank geared towards economic empowerment.
Some of the participants who shared their expectations said they were confident that the workshop would achieve desired objective.
The International Public Sector Accounting Standard (IPSAS) is adjudged to be the best form of accounting practice for public sector organisations as it provides consistent application of accounting principles for the three tiers of government.
The Rivers state Chief Judge, Justice SIMONE CHIBUZOR-AMADI has given an indication to sanction any lawyer who fail to comply with directive of a judge in the state to transferred a case to Rivers State Multi Door Courthouse for Alternatives Dispute Resolution.
Justice AMADI stated this during a brief ceremony held at the chief judge auditorium in port Harcourt Friday held to hand over certificates of operation to two private ADR chambers on Precarious Dispute Resolution Services and Harmony Arbitration and mediation center .
He urged the two private ADR centres to be diligent in the discharge of their duties and warned against compromising the standard of Alternative Dispute Resolution, ADR but should observed the regulations set out in collaboration regulation by the state Multi Door Court House.
Earlier in a address, the Director of the State Multi Door Courthouse, VICTOR NWEKE esq, highlighted some of the achievements of the Multi Door Courthouse especially in decongestion of court rooms.
NWEKE while disclosing how the department certified the two private ADR centres called for serious punitive measures be taken against any lawyer who fail to comply with a case referred to Multi Door Court House by a judge or magistrates in the state.
In her acceptance speech on behalf of the two certified private ADR centres, ALICE NIMI commended the State Judiciary and Multi Door Courthouse for the approval and assured that all the rules and regulations spelt out will be followed.
In a related development; the Rivers State Judiciary has assured its readiness to collaborate with Nigerian Securityding Civil Defence Corps, NSCDC in using Alternative Dispute Resolution to resolve some of the issues in their office.
The state Chief Judge , Justice SIMONE CHIBUZOR-AMADI made the promise when he received in audience the Zonal Commander of NSCDC, Assistant Commandant General, AYINLA TALYE OLOWO and his team who paid him a courtesy visit in his office , Friday where issuees ADR utilization took centre stage.
He used the opportunity to brief his visitors on the hurdles judges faces daily in the court room and the need for the decongestion of the court room , stressing that one judge handle more than three hundred cases but that if lawyers and litigants adopt ADR practice court rooms can be releive of the daily congestions.
The state Chief Judge however urged NSCDC to ensure a wider sensitization of the members of the public on the practice of ADR for a better awareness and knowledge.
Earlier in his speech, the Zonal Commander of NSCDC, Assistant Commandant General, AYINLA TALYE-OLOWO said the visit was to seek collaboration on the use of ADR in resolving some issues which he insisted would help decongest the courtrooms.
Our correspondent reports officials of the Rivers State Multi Door Courthouse led by the Director, VICTOR NWEKE led the team of NSCDC on a technical session where information on how to the fully in cooperated into the Multi Door Courthouse and operation of ADR will be emphasized.
Akujobi Amadi